Merchandise Life Cycle for Small Retail Businesses and Small-Batch Manufacturers
Published – 08/02/2019 6:39 pm
When I started working in a retail buying office, I found it to be an exciting time in my life.
I adored being part of the decision-making that shaped what customers bought. Specifically, I enjoyed learning how to understand my customers so deeply that I could shop of them — thousands and thousands of them.
What you and I have in common is that we excel at translating visual or emotional inspiration into something a customer will pay for. We also have strong presentation skills — from visual communication to store merchandising to selling. Like you, I love this large portion of the job being a merchant!
During this early part of my career, I could have left the rest of the merchant role behind. Believe me when I tell you, I tried and here’s how it went!
Ultimately, I couldn’t. I couldn’t pick and choose what to focus on and what to ignore, and neither can you.
I quickly learned that selling inventory to a paying customer happens in an ecosystem of sorts and that this environment has an infinite amount of influences — some that we control and some do not.
Listen to this week’s podcast episode to get a bird’s eye view of the merchandise life cycle so that you can have more clarity and control of your time.
– The difference between operating a business on a solid foundation vs. shaky ground
– Unlocking more personal time off by mastering production management
– Learn the six phases of the merchandise life cycle
– Similarities and differences of how retailers and makers or small-batch manufacturers move through the merchandise life cycle
After you’ve listened, it’s time to take action! Remember: Knowledge and action are most effective when applied within the context of your unique business using your unique style.